RSI is powerful, if you only traded BTC when RSI broke above or below 50 on the 1D then you would have had 4 proiftable long term trades over the past 7 months.
Each (#) marks a cross of the 50 RSI level - If it drops through 50RSI on the 1D this is a bearish signal. If it shoots up past the 50RSI level, this is a bullish signal.
Trading based on this simple rule would have had a 100% hit rate (assuming you can properly set Target / SL.
Each (#) marks a cross of the 50 RSI level - If it drops through 50RSI on the 1D this is a bearish signal. If it shoots up past the 50RSI level, this is a bullish signal.
Trading based on this simple rule would have had a 100% hit rate (assuming you can properly set Target / SL.
If we break through this 50 level, it may present a buy opportunity.
If the resistance holds, odds are the price will retouch the trendline @ ~5950 before another upward move.